IOTA has made its intentions about domitanting the IoT industry known. This interest has manifested into different products and partnerships. Recently, IOTA entered into a partnership with electronics giant Bosch to build a data collection product for the Internet of Things. This device by the electronics manufacturer has been integrated with IOTA’s decentralized data marketplace. The announcement was made by the official Twitter handle of Bosch on the 12th of November.
IOTA (MIOTA) Price Today – MIOTA / USD
Using Masked Authenticated Messaging, individuals and firms can buy and sell access to data streams on the IOTA data marketplace. As described by Bosch, Masked Authenticated Messaging is a second-layer communication protocol for data that allows data sharing on a secure peer-to-peer network through encrypted channels. This preserves the integrity of the data even with a masked source.
The new connectivity device by Bosch called Bosch XDK, is a programmable sensor device and prototyping platform for the Internet of Things. It can also be used as a node solution. This device combines different network technologies, sensors and data storage to give the user varying levels of data collection power. The data collected can be sold on the IOTA marketplace. This is going to be the first open-source code that developers can use to connect Bosch XDK and IOTA Tangle.
Tangle, unlike blockchain technology, doesn’t require mining and doesn’t have blocks. It is built in a directed acyclic graph. This is a topologically ordered operating system that controls different types of transactions simultaneously on different chains in one network. The XDK device was made available along with an open source code for members of the IOTA community. This code is what they will use to facilitate interactions between Tangle and the hardware.
What Else Has IOTA Been Up To?
According to a report in August, Fujitsu, a Japanese-based ICT conglomerate announced the launch of a proof-of-concept based on IOTA’s technology. It will be used in the manufacturing industry for audit trail processes. Fujitsu is making plans to use IOTA’s Tangle as a data storage medium for these audit trails in supply chains and industrial production environment.
Before this, in June, IOTA got into a partnership with Volkswagen to use IOTA’s Tangle to make autonomous cars more efficient. During a demonstration, Tangle was used to send over-the-air software updates for Volkswagen’s connected cars.
Last week, IOTA’s native token, MIOTA was integrated into Ledger’s hardware cryptocurrency wallet as announced by the IOTA Foundation. These are just some of the ways IOTA is moving closer to domitanting the IoT industry.
IOTA (MIOTA) Price Analysis
Main while, even with the partnerships and products being debuted by the IOTA Foundation, the price of the native token still remains bearish against the USD. To be fair, this bearish attack is not limited to IOTA’s MIOTA. Other cryptocurrencies are struggling amid the storm. At the time of writing, MIOTA was trading at $0.482961. This shows that it is down by 2.04% and down against Bitcoin by 0.82%. The trading volume over a 24 hour period is $10,425,741 and the total market capitalization is $1,342,404,370. The next few trading sessions will determine if the price action will change.